NEW YORK--(BUSINESS WIRE)-- Ernest C. Schlotter, a senior analyst with Zurich, Switzerland-based SISM Research and a four star analyst according to Reuter's StarMine, released his twelve month price target for Octagon 88 Resource, Inc. (OCTX) after analyzing the results of the company's two core drillings into the Bluesky and Elkton Formations, which showed excellent cap rocks for heavy conventional oil resources and primary production capability.

The quality of the oil is much better than expected and well in the range of primary recovery means that an oil density of 10° to 14° is mobile enough to be pumped to the surface unaided by steam. The presence of primary production abilities in both projects is a major advantage to Octagon, as the average typical thermal projects would have longer timelines due to engineering analysis and applications to the ERCB for licensing pilot production plants. During the next couple of weeks CEC North Star technical team will establish the various types of oil now identified, through AGAT laboratory analysis. This includes the API indicating mobility and Viscosity giving a more precise conclusion to the amount of oil held in these oil sands. Schlumberger Ltd has been engaged to perform dynamic reservoir simulation work for both the Bluesky and Elkton project to determine preferred technical methods or production of reservoirs. Based on Schlumberger's petrophysical and reservoir results an engineering report can be established to new calculate recoverable barrels subsequently predicting the economics of the projects. The new report will give more information about the Company's asset and lead to a revaluation of resources.Octagon is working hard to turn resources into reserves. In a short time of period the Company has established a well defined project that has visible timing, scope and capital cost expectations...

Before core drilling we assigned a value of $0.50/bbl to Prospective Resources stored in clastic formations. However, based on the encouraging core drilling program into the Bluesky/Gething formation we assigned a value of $1.00/bbl for clastic resources and used the new valuation in our last report dated April 2, 2013. For Prospective Resources stored in Erosional Edge mixed carbonates/sands we have not changed our valuation of $0.50/bbl but waiting for the simulation report from Schlumberger before changing probably the valuation per barrel. For resources kept in the carbonates we assigned a valuation of $0.125/bbl. We believe that the Net Asset Value approach is the preferred valuation method for oil sands companies and the base NAV of $23.11 is the basis of our 12-month share price target.

-Ernst Schlotter, SISM Research

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Forward-looking Statements:

This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the timing and results of the 2013 drilling and development plan. Additional factors include increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended December 31, 2012 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2013. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.

SISM Research & Investment Services ("SISM") is a research and analysis firm that produces company and industry research reports. This report is based on SISM's independent analysis and judgment, but relies on materials supplied by the subject companies and other sources believed to be reliable. Except as otherwise indicated, SISM has made no independent verification and does not guarantee the information's accuracy or completeness. The information in this report is subject to change without notice, and SISM assumes no responsibility to update the information contained in this report. This report should not be used as a complete analysis of the companies, industries or securities described in this report. The information contained in this report is not intended to be, and shall not constitute, an offer to buy any security. The securities of the subject companies may involve a high degree of risk and may not be suitable for all investors. Investors are advised to consult their personal broker or investment advisor before making any investment decision concerning the subject companies. This report contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. No promise of favorable point of view or opinion has been made by SISM to Octagon 88 Resource Inc. or to any of SISM's subject companies. Further, it is SISM's policy that neither the firm nor its principals, nor the firm's assigned and/or other writing analyst(s) own or trade shares of any subject companies or subject companies' "competitors". To assist the reader they should develop their own information they should go to the company website at http://www.octagon-88.com/